TAMPA, Fla. – Primo Water Company (NYSE: NYSE:), a North American chief in sustainable ingesting water options, reported first-quarter earnings that missed analyst expectations for adjusted EPS however surpassed income estimates.
The corporate introduced a Q1 adjusted EPS of $0.12, which fell wanting the consensus estimate of $0.14. Nonetheless, income for the quarter was sturdy at $452 million, exceeding the analyst forecast of $438.99 million.
The corporate’s inventory rose 3.3% following the earnings launch.
Wanting forward, Primo Water offered its monetary steering for the complete 12 months of 2024, projecting revenues to be within the vary of $1.855 to $1.885 billion. The midpoint of this steering, $1.87 billion, is barely above the analyst consensus of $1.86 billion. For the second quarter, the corporate expects revenues between $472 and $482 million, with the midpoint at $477 million, marginally above the consensus estimate of $476.1 million.
The corporate’s CEO commented on the outcomes, highlighting the energy of their recurring income mannequin and the continued shopper demand for sustainable hydration options. This method appears to resonate properly with the market, as mirrored within the optimistic inventory motion post-earnings announcement.
Primo Water’s dedication to sustainability and shopper safety is underscored by its partnership with the Worldwide Bottled Water Affiliation (IBWA) in North America, making certain strict adherence to security and regulatory requirements. The corporate’s efficiency this quarter demonstrates its means to develop its buyer base and improve shareholder worth whereas sustaining a give attention to environmental stewardship.
This text was generated with the assist of AI and reviewed by an editor. For extra data see our T&C.
remove ads
.